(Newser)
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The Obama administration is keeping the TARP around for a rainy day, Tim Geithner told Congress in a letter today—the program will be extended through October. Though the Treasury is done bailing out big banks for now, Geithner said it needed to be prepared in case of new financial threats, Bloomberg reports. The TARP was originally set to end on Dec. 31.

Geithner called the program that lent to banks in exchange for secured shares “effectively closed,” but that it was “imperative that we maintain this capacity to respond if financial conditions worsen.” Yesterday Obama said that he’d ordered Geithner to use the remaining funds to help small businesses. So far the Treasury has deployed $471.5 billion of the funds, and Geithner says he does not anticipate that number rising above $550 billion.

It won't be over until Obama and his cronies are all out of Washington.

Sterling_Archer

Dec 10, 2009 2:25 AM CST

@Fondue: Could be the case. I've called DYL out on it (one person operating two profiles). Hasn't denied it. Too strong a coincidence to be that big a fan of DLY in just 2 days. No one can like DLY that much except DLY.

Fondue

Dec 10, 2009 1:28 AM CST

Actually Wonka, I think Do Do is/was Face-Of-DNC. I had an icon for a user in my "don't like" list that was a clone of our beloved Face-Of-RNC that had recently joined after the other two had been banned. Now that icon is a cat.